The Second Meeting of Economic Advisory Council to the Prime Minister (EAC-PM) has spelt out ‘clear road map’ for government to ramp up job creation and infrastructure financing avenues while investing more resources in health, education and skill development. The meeting was chaired by Dr. Bibek Debroy, Member NITI Aayog.
The deliberations of EAC-PM took stock of economic and social analysis done by theme groups and evolving initiatives led by different Members. It identified key issues, strategies and recommended interventions in respect of these themes.
EAC-PM spelt out clear road map for stepping up skill development, job creation; enhanced resource investment in social sector- including for Health and Education and for boosting Infrastructure financing.
It formulated far reaching recommendations to guide evolving framework for 15th Finance Commission, including incentivization of states for achieving Health, Education and Social Inclusion outcomes.
It is also evolving design of a new Economy Tracking Monitor, linking economic growth indicators with social indicators for last mile connectivity.
It held that improvements are needed in National Accounts and innovative steps for unlocking growth, exports and employment potential including through transformation of India’s Gold Market.
Prime Minister Narendra Modi has constituted five member EAC-PM in September 2017 as an independent body to provide advice on economic issues to the government, specifically to the Prime Minister. It consists of economists of high repute and eminence. It serves as an independent institutional mechanism, to provide informed advice to the Prime Minister on addressing issues of macroeconomic importance and related aspects.